Discovery Health has abandoned recovery action against more than 16 500 members, agreeing to absorb up to R170 million in overpaid ATB claims after sustained pressure from MediCheck,
Five medical schemes – including Discovery, the country’s biggest by number of beneficiaries – paid commissions to brokers above the industry average last year, according to the Council for Medical Schemes (CMS) annual […]
Alexander Forbes says it supports National Treasury’s proposed “two-bucket” system, as its latest Member Insights highlighted non-preservation as the main reason only 6% of fund members can expect to retire with a replacement […]
The main reason the FSCA fined FSPs in terms of the Financial Intelligence Centre Act (FICA) last year was for failing to implement a risk management and compliance programme (RMCP), the Financial Intelligence […]
Absa intends to sell its LISP business to Glacier by Sanlam as part of the overall transaction in which Sanlam Investment Holdings (SIH) will acquire Absa’s investment management business. In a SENS announcement, […]
You can be certain that any sentence with the words “South Africans”, “retirement plan” and “recent survey” will tell you something you probably already know: few South Africans are saving enough. That pretty […]
The concept of “emigration”, as recognised by the Financial Surveillance Department (FSD) of the South African Reserve Bank (SARB), has been phased out with effect from 1 March 2021. This has created even […]
The concept of “emigration”, as recognised by the Financial Surveillance Department (FSD) of the South African Reserve Bank (SARB), has been phased out with effect from 1 March 2021. This has created even […]
The Actuarial Society of South Africa (ASSA) has released research suggesting that National Treasury’s “two-bucket” proposal, which will allow retirement fund members to access a portion of their retirement benefits for emergencies, will […]
The FSCA’s annual report shows what regulatory action was taken in the past year and the compliance issues that caught the authority’s eye. Debarments The number of debarment orders issued by the FSCA […]
You’re most at risk of becoming a victim of digital banking fraud if you use a mobile device – but the risks are much lower if you use a banking app. And online […]
The South African Special Risk Insurance Association (Sasria) has once again assured claimants that it has sufficient reserves, including through its reinsurers, to meet all valid claims arising from the unrest that rocked […]
The South African Special Risk Insurance Association (Sasria) has once again assured claimants that it has sufficient reserves, including through its reinsurers, to meet all valid claims arising from the unrest that rocked […]
The FSCA says it has begun consultations with the life insurance industry to develop solutions aimed at achieving “fair customer outcomes” for universal life policyholders. The authority said in a statement that the […]
The FSCA says it has begun consultations with the life insurance industry to develop solutions aimed at achieving “fair customer outcomes” for universal life policyholders. The authority said in a statement that the […]
The Financial Sector Tribunal has upheld a ruling by the Pension Funds Adjudicator (PFA) that a retirement annuity fund was not liable for the losses suffered by a member when it reduced the […]
The Financial Sector Tribunal has upheld a ruling by the Pension Funds Adjudicator (PFA) that a retirement annuity fund was not liable for the losses suffered by a member when it reduced the […]
Levies from the financial services sector contributed R837 million (2020: R827m) to the FSCA’s revenue of R927m (R926m) in the year to the end of March 2021, according to the authority’s annual report. […]
